Joseph E. Weston Donates Remaining Real Estate Holdings To His Charitable Foundation (Photo) - 05/06/26
FOR IMMEDIATE RELEASE
Contact: Colin Fogarty
Director of Communications
Oregon Community Foundation
JOSEPH E. WESTON DONATES REMAINING REAL ESTATE HOLDINGS TO HIS CHARITABLE FOUNDATION
Portland philanthropist’s gift brings value of endowment to more than $1 billion
PORTLAND, Ore. — Portland philanthropist and businessman Joseph E. Weston has donated the remainder of his commercial real estate holdings to the OCF Joseph E. Weston Public Foundation, a supporting organization of Oregon Community Foundation. The gift brings the value of the endowment to more than $1 billion. This is the largest single donation in Oregon Community Foundation’s 53-year history.
Weston grew up in Southeast Portland without much money, but with a strong work ethic and a close-knit family. As a teenager, he worked as a soda jerk at a drugstore, where a pharmacist who owned apartments first showed him the financial power of real estate. By the time he was 18, Weston had purchased his first two duplexes. He still owns them today.
As Weston’s business grew, so did his generosity. Since 1991, Weston and the OCF Joseph E. Weston Public Foundation have awarded more than $250 million in grants and scholarships. The donation of his remaining properties will ensure Weston’s grantmaking will endure in perpetuity.
“Joe has earned his place in history as one of Oregon’s most generous philanthropists,” said Lisa Mensah, President and CEO of Oregon Community Foundation. “This donation is a triumph for Joe and his legacy. We are proud to be part of his enormous impact on our state.”
The OCF Joseph E. Weston Public Foundation is Oregon Community Foundation’s largest supporting organization. Last year, it distributed more than $27 million to fulfill its mission to improve the human condition by serving vulnerable populations, funding projects that assist children, the working poor, senior citizens, people with disabilities and those experiencing homelessness.
“I grew up poor. I know what it was like to be excluded because our family didn’t have resources,” Weston has said. “I’ve also been very fortunate in my profession, and that is why the goal of the Foundation is to provide funding to support nonprofits who are helping those in need. Working with OCF has allowed me to better realize that goal now and into the future.”
Over the course of his career, Weston built and acquired thousands of apartments and hundreds of commercial real estate projects across Oregon. He played an instrumental role in the development of Portland’s Pearl District.
About Oregon Community Foundation
Since 1973, Oregon Community Foundation has worked to improve the lives of all Oregonians through the power of philanthropy. Each year, OCF distributes more than $200 million in grants and scholarships statewide in partnership with donors and volunteers. Individuals, families, businesses and organizations can work with OCF to create charitable funds to support causes important to them. To learn more, visit oregoncf.org.
###
